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Leased Merchandise, Net | 12 Months Ended
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Dec. 31, 2021
Receivables [Abstract] |
Leased Merchandise, Net | LEASED MERCHANDISE, NET Leased merchandise, net consists of the following (in thousands):
| As of December 31,
| 2021 |  | 2020
Leased merchandise (1) | $ | 156,280 |  |  | $ | — |
Processing fees | (440) |  |  | — |
Merchant partner discounts and premiums, net | 310 |  |  | — |
Accumulated depreciation | (6,764) |  |  | — |
Leased merchandise, before allowance for lease losses | 149,386 |  |  | — |
Allowance for lease losses | 5,442 |  |  | — |
Leased merchandise, net | $ | 143,944 |  |  | $ | — |
(1)Acquired leased merchandise in the AFF Acquisition was recorded at fair value. See Note 3. Changes in the allowance for lease losses are as follows (in thousands):
| As of December 31,
| 2021 |  |  |  | 2020
Balance at beginning of year | $ | — |  |  |  |  | $ | — |
Provision for lease losses (1) | 5,442 |  |  |  |  | — |
Charge-offs (2) | — |  |  |  |  | — |
Recoveries | — |  |  |  |  | — |
Balance at end of year | $ | 5,442 |  |  |  |  | $ | — |
(1)Represents the provision for lease losses on leases originated from December 17, 2021 through December 31, 2021. (2)Acquired leased merchandise in the AFF Acquisition was recorded at fair value. As a result, leased merchandise charged-off between December 17, 2021 and December 31, 2021 was allocated no fair value. See Note 3

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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